Tourism and Hospitality
The tourism and hospitality industry is one of the largest segments under the services sector of the Indian economy.
In India, the sector's direct contribution to gross domestic product (GDP) is expected to grow at 7.8% per annum during the period 2013-2023.
The total market size of the tourism and hospitality industry in India stood at $117.7 billion in 2011 and is anticipated to touch $418.9 billion by 2022.
Foreign exchange earnings (FEE) during January-June 2014 stood at $9.44 billion, as compared to FEEs of $8.58 billion during the same period last year, registering a growth of 17.9%.
The foreign direct investment (FDI) inflows in hotel and tourism sector during the period April 2000–March 2014 stood at $7,348.09 million, as per the data released by Department of Industrial Policy and Promotion (DIPP).
The hospitality sector in India expects 52,000 new hotel rooms to be added in five years (2013-17), according to a survey by Cushman & Wakefield. This will lead to a rise of over 65% in total hotel inventory in India.